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Politics and the euro push

MARKET NEWS

FX Week staff

08 Apr 2002

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Middle East conflict proved beneficial to the euro against the dollar, but this was due to dollar falls against all currencies, rather than specific euro activity, writes chief FX strategist at Dresdner Klenwort Benson in London, Jesper Dannesboe (left)

The euro started the week with a significant appreciation against the US dollar. The driver during Monday, April 8’s trading hours (Europe was on Easter holiday but the US was open) was the Israeli government’s decision to send its army into P